13 Market Street - Agorafy
Mixed-Use Building For Sale Lower East Side/Chinatown
13 Market Street New York, NY 10002 LOCATION: BLOCK / LOT: LOT DIMENSIONS: LOT AREA: BUILDING SIZE: STORIES: GROSS SF: RESIDENTIAL UNITS: COMMERCIAL UNITS: ZONING: F.A.R. (AS-OF-RIGHT): MAX. BSF: ASSESSMENT (14/15): TAXES (14/15):
West side of Market street, between East Broadway and Henry street 280 / 25 25' x 90' (Approx.) 2,250 (Approx. SF) 25' x 75' (Approx.) 5 9,375 (Approx. SF) 16 2 C6-1G 6.0 Commercial 3.44 Residential 13,500 $708,570 As of 3/2/2015 $91,087
PROPERTY DESCRIPTION: The subject property is a 5-story mixed-use building located on the west side of Market Street, between East Broadway and Henry Street. The 9,375 SF building consists of 2 ground floor retail units and 16 residential units. The retail units run the full depth of the building and are occupied. The restaurant has occupied the space for almost 15 years, with a LXP of 9/30/15. The grocery store has a lease until 3/31/2016. There are 16 apartments. The owner occupies unit 3 and that will be delivered vacant. The remaining 15 are Rent Stabilized. The Gross Rent Roll is over $500,000 with an estimated NOI of $430,000. This offering provides excellent upside potential considering the RS units are averaging $1,300 a month. The building is located in one of the major retail corridors on East Broadway. Some of the retail landmarks nearby include the HSBC Bank, Golden Unicorn Restaurant, East Broadway Mall...etc. Furthermore, Chatham Square is only 2 blocks away. In addition, Essex Crossing (aka Seward Park Urban Renewal Area) is an approved development nearby and will feature 1.9 million square feet of residential, commercial, and community space situated on six acres along with office space and 1,000 residential units. Essex Crossing will feature unparalleled amenities including shops, restaurants, a movie theater, bowling alley, park space, and cultural attractions.
Asking Price: $8,950,000 For more information or inspection, please contact Exclusive Agents:
Mei Ling Wong
黃美伶
Michael DeCheser
Darragh Clarke
Vice President of Sales 212-696-2500 x 7772
Associate Director of Sales 212-696-2500 x 7737
Senior Associate 212-696-2500 x 7716
[email protected]
[email protected]
[email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333 www.masseyknakal.com THE BRONX
BROOKLYN
MANHATTAN
NASSAU
QUEENS
STATEN ISLAND
WESTCHESTER
13 Market Street New York, NY 10002 LOCATION: BLOCK / LOT: LOT DIMENSIONS: LOT AREA: BUILDING SIZE: STORIES: GROSS SF: RESIDENTIAL UNITS: COMMERCIAL UNITS: ZONING: F.A.R. (AS-OF-RIGHT): MAX. BSF: ASSESSMENT (14/15): TAXES (14/15):
West side of Market street, between East Broadway and Henry street 280 / 25 25' x 90' (Approx.) 2,250 (Approx. SF) 25' x 75' (Approx.) 5 9,375 (Approx. SF) 16 2 C6-1G 6.0 Commercial 3.44 Residential 13,500 $708,570 As of 3/2/2015 $91,087
PROPERTY DESCRIPTION: The subject property is a 5-story mixed-use building located on the west side of Market Street, between East Broadway and Henry Street. The 9,375 SF building consists of 2 ground floor retail units and 16 residential units. The retail units run the full depth of the building and are occupied. The restaurant has occupied the space for almost 15 years, with a LXP of 9/30/15. The grocery store has a lease until 3/31/2016. There are 16 apartments. The owner occupies unit 3 and that will be delivered vacant. The remaining 15 are Rent Stabilized. The Gross Rent Roll is over $500,000 with an estimated NOI of $430,000. This offering provides excellent upside potential considering the RS units are averaging $1,300 a month. The building is located in one of the major retail corridors on East Broadway. Some of the retail landmarks nearby include the HSBC Bank, Golden Unicorn Restaurant, East Broadway Mall...etc. Furthermore, Chatham Square is only 2 blocks away. In addition, Essex Crossing (aka Seward Park Urban Renewal Area) is an approved development nearby and will feature 1.9 million square feet of residential, commercial, and community space situated on six acres along with office space and 1,000 residential units. Essex Crossing will feature unparalleled amenities including shops, restaurants, a movie theater, bowling alley, park space, and cultural attractions.
Asking Price: $8,950,000 For more information or inspection, please contact Exclusive Agents:
Mei Ling Wong
黃美伶
Michael DeCheser
Darragh Clarke
Vice President of Sales 212-696-2500 x 7772
Associate Director of Sales 212-696-2500 x 7737
Senior Associate 212-696-2500 x 7716
[email protected]
[email protected]
[email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333 www.masseyknakal.com THE BRONX
BROOKLYN
MANHATTAN
NASSAU
QUEENS
STATEN ISLAND
WESTCHESTER
